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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 6 Months Ended
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Sep. 30, 2025
Fair Value Disclosures [Abstract] |
Schedule of Carrying Value and Total Estimated Fair Value | The carrying value and estimated fair value of the Company’s long-term debt were as follows (in thousands):
|  | September 30, 2025 |  | March 31, 2025
|  | Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Term Loans |  | $ | 106,086 |  |  | $ | 99,135 |  |  | $ | 102,507 |  |  | $ | 91,576 |
PNC Credit Facility |  | — |  |  | — |  |  | 26,600 |  |  | 24,755 |
Schedule of Fair Value Measurement Inputs and Valuation Techniques | The following table summarizes the key assumptions used in estimating the fair value of the Forbearance Warrant at issuance and at September 30, 2025:
| September 30, 2025 |  | September 23, 2025 |  |  |  |  |  |  |  |  |  |
Discount period (years) | 6.98 years |  | 7.0 years |  |  |  |  |  |  |  |  |  |
Risk-free interest rate | 3.57% - 3.89% |  | 3.52% - 3.83% |  |  |  |  |  |  |  |  |  |
Stock price volatility | 98.00% |  | 98.00% |  |  |  |  |  |  |  |  |  |
Stock price at valuation date | $9.92 |  | $10.69 |  |  |  |  |  |  |  |  |  |
Probability 1 | 35% - 15% - 50% |  | 35% - 15% - 50% |  |  |  |  |  |  |  |  |  |
Fair value (in thousands) | $23,895 |  | $25,420 |  |  |  |  |  |  |  |  |  |
(1) Scenario probability as of issuance was based on timing expectations of management that a liquidation event occurring was estimated at 35%; a fundamental transaction occurring was estimated at 15%; and none of the previous events was estimated at 50%.
Schedule of Changes in Level 2 Liabilities | The table below sets forth a summary of changes in the fair value of the Company’s warrant liabilities for the period ended September 30, 2025:
Balance at June 30, 2025 | $ | — |  |  |  |  |  |  |  |  |
Issuance of warrants | 25,420 |  |  |  |  |  |  |  |  |
Change in fair value of warrant liabilities | (1,525) |  |  |  |  |  |  |  |  |
Balance at September 30, 2025 | $ | 23,895 |  |  |  |  |  |  |  |  |

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 103 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-103 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Name Accounting Standards Codification -Section 55 -Paragraph 10 -SubTopic 10 -Topic 825 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482881/825-10-55-10 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-13 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482881/825-10-55-12 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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